Economics Happy Hour is a podcast where two economics educators talk through current events, teaching, and research over a drink. Conversations are unscripted and focused on how economists actually think about the world and the classroom. <br/><br/><a href="https://www.econhappyhour.com?utm_medium=podcast">www.econhappyhour.com</a>
Economics Happy Hour Podcast
Claim This Podcastby Matt & Jadrian
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Economics Happy Hour is a podcast where two economics educators talk through current events, teaching, and research over a drink. Conversations are unscripted and focused on how economists actually think about the world and the classroom. <br/><br/><a href="https://www.econhappyhour.com?utm_medium=podcast">www.econhappyhour.com</a>
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Recent Episodes
June 18, 2026
The World Cup Is Making America Look Different
<p>The World Cup has brought millions of international fans to North America, and many are discovering aspects of American life that locals take for granted. Matt and Jadrian explore why visitors are fascinated by things like massive convenience stores, endless product variety, and regional chains. They also dig into the economics behind World Cup ticket prices, player compensation, and the surprising value of hosting global sporting events. Along the way, they discuss how soccer itself is changing as leagues seek new revenue streams.</p><p><strong>In this episode, we talk about:</strong></p><p>* Why World Cup visitors are going viral while discovering everyday American experiences.</p><p>* How economies of scale help explain Buc-ee’s, giant convenience stores, and product variety.</p><p>* Whether hosting major sporting events creates meaningful economic benefits.</p><p>* The economics of ticket prices and why they may not be as outrageous as they seem.</p><p>* How hydration breaks, advertising revenue, and changing soccer rules could reshape the sport’s future.</p><p>If you liked this conversation, you might also enjoy</p><p><strong>This Week’s Drinks 🍻</strong></p><p>With a morning recording session on a workday, the drinks menu leaned heavily toward breakfast beverages. Jadrian enjoyed a “non-alcoholic mimosa” (also known as <a target="_blank" href="https://www.unclematts.com/products/uncle-matts-pulp-free-orange-juice/"><strong>orange juice</strong></a>), while Matt powered through with a Diet Mountain Dew that was specifically rebranded as “<a target="_blank" href="https://www.americandew.com/"><strong>American Dew 250.</strong></a>” </p><p><strong>Name That Stat 📊</strong></p><p>This week featured a pair of World Cup-themed statistics. The first number focused on the <a target="_blank" href="https://www.cbc.ca/news/canada/toronto/fifa-tickets-going-down-world-cup-expert-9.7227201"><strong>cheapest resale ticket price</strong></a> available for one of today’s matches. The other looked at the number of <a target="_blank" href="https://viz.luarai.com/worldcup2026?utm_source=chartr&utm_medium=email&utm_campaign=chartr_20260615"><strong>World Cup players who were born in a different country</strong></a> than the one they were representing on the field.</p><p>Show Notes</p><p>With the World Cup underway, one of the most interesting stories hasn’t been happening on the field. Instead, it’s been unfolding across social media as international visitors document their experiences traveling through the United States. Fans have gone viral for their <a target="_blank" href="https://abcnews.com/GMA/Living/world-cup-visitors-viral-reactions-everyday-american-life/story?id=133927192"><strong>reactions to Waffle House, Taco Bell, giant soda fountains, and especially Buc-ee’s</strong></a>. What seems ordinary to Americans often looks extraordinary to visitors encountering it for the first time.</p><p>That observation led to a broader discussion about variety, competition, and economies of scale. Jadrian wrote about this in <a target="_blank" href="https://www.mondayeconomist.com/p/the-world-cups-most-unexpected-highlight"><strong>his Monday Morning Economist newsletter</strong></a>, connecting their experience back to the famous stories about <a target="_blank" href="https://www.cato.org/blog/happy-yeltsin-supermarket-day-0"><strong>Soviet leader Boris Yeltsin visiting American grocery stores decades ago</strong></a>. While the historical circumstances were very different, both stories revolve around the same reaction: amazement at the sheer number of choices available to consumers.</p><p>From there, we shifted toward the economic impact of hosting events like the World Cup. Economists are often <a target="_blank" href="https://joeornstein.github.io/pols-4641/readings/Bradbury%20et%20al.%20-%202022%20-%20The%20impact%20of%20professional%20sports%20franchises%20and%20v.pdf"><strong>skeptical of exaggerated claims about sports-driven economic growth</strong></a>, but one potential benefit is much harder to measure: positive publicity. The flood of videos showing visitors enjoying American culture may improve perceptions of the United States as a travel destination long after the tournament ends. </p><p>We also took some time to explore how ticket prices fit into the broader sports marketplace. While some World Cup matches are commanding hundreds or even thousands of dollars on secondary markets, those prices still look modest when <a target="_blank" href="https://www.ksat.com/news/local/2026/06/11/courtside-ticket-priced-at-nearly-115k-for-nba-finals-game-5-at-frost-bank-center/"><strong>compared to recent NBA Finals tickets</strong></a>. The comparison raises an interesting question about scarcity, prestige, and what people are willing to pay for a once-in-a-lifetime experience.</p><p>Finally, one of the most intriguing economic storylines of this summer’s games is the introduction of hydration breaks. Officially designed to <a target="_blank" href="https://www.npr.org/2026/06/18/nx-s1-5862575/fifa-hydration-breaks"><strong>give players time to cool down</strong></a>, these stoppages also create <a target="_blank" href="https://www.espn.com/soccer/story/_/id/49080670/are-world-cup-hydration-breaks-actually-commercial-breaks-momentum-breaks"><strong>opportunities for additional advertising revenue</strong></a>. Will soccer leagues around the world eventually adopt similar breaks now that it’s happening on the game’s biggest stage? The “rules of the game” are always evolving, and the best way to see that is looking back at some of <a target="_blank" href="https://www.si.com/soccer/mls-shootouts-and-more-five-crazy-ways-american-soccer-has-changed-in-30-years"><strong>Major League Soccer’s famously strange early attempts to “Americanize” soccer</strong></a>, including countdown clocks, shootouts, and eliminating ties.</p><p>We covered a lot of the economics behind the World Cup in this episode, but we’re curious about something a little different, and we’d love your help. If a World Cup visitor came to your hometown or country, what’s the one place, meal, or experience you’d recommend to help them understand what makes it special? Drop your answer in the comments. If we’re ever in your neck of the woods, we just might add it to our itinerary.</p><p>Pop Culture Corner 🍿</p><p>This week’s recommendation stayed firmly on theme. Jadrian’s recommendation was <a target="_blank" href="https://en.wikipedia.org/wiki/The_Longest_Penalty_Shot_in_the_World"><strong>The Longest Penalty Shot in the World</strong></a><strong> (</strong><a target="_blank" href="https://www.imdb.com/es/title/tt0430454/"><strong>El penalti más largo del mundo</strong></a><strong>)</strong>, a Spanish comedy built around an economist’s dream scenario. A backup goalkeeper suddenly finds himself responsible for stopping a championship-deciding penalty kick. Thanks to an unusual twist, the kick won’t happen until the next day. That delay creates endless opportunities for <a target="_blank" href="https://econ.video/2023/03/30/the-longest-penalty-shot-in-the-world-common-knowledge/"><strong>strategy, second-guessing, and game theory</strong></a>. The scene is a fun exploration of interdependence as everyone tries to predict what everyone else will do.</p><p>Similarly, there is also a <a target="_blank" href="https://econ.video/2023/04/25/ted-lasso-common-knowledge/"><strong>great scene from Ted Lasso involving Nate and AFC Richmond’s coaching staff</strong></a>. The coaches spiral into a chain of “he knows that we know that he knows” logic while trying to anticipate their opponent’s strategy. It’s a perfect pop culture example of common knowledge, strategic thinking, and the recursive decision-making that sits at the heart of game theory.</p><p>Have a question or topic idea? Reply to this email or drop it in the comments! </p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://www.econhappyhour.com?utm_medium=podcast&utm_campaign=CTA_1">www.econhappyhour.com</a>
June 4, 2026
The Economy by Decade: The 2010s
<p>The 2010s were an unusual economic decade as there was a long recovery from the Great Recession without a major economic shock in the United States. We look at the trends that defined the era, including falling unemployment, the rise of smartphones, the growth of the gig economy, and the emergence of Bitcoin. Along the way, we debate whether Obamacare was the decade’s most important policy and whether low interest rates set the stage for some of today’s economic challenges. The result was a fascinating look at how many of today’s economic realities were built during the 2010s.</p><p><strong>In this episode, we talk about:</strong></p><p>* Why the 2010s may be remembered as the “recovery decade.”</p><p>* The economic impact of smartphones, apps, and Bitcoin.</p><p>* Which trends from the 2010s still shape the economy today.</p><p>* The rise of gig work and changing labor markets.</p><p>* Obamacare and the decade’s biggest policy battles.</p><p>If you liked this conversation, you might also enjoy</p><p><strong>This Week’s Drinks 🍻</strong></p><p>Jadrian is still working through a Sam Adams variety pack, with this week’s contribution being a <a target="_blank" href="https://www.samueladams.com/our-beers/limited-release/breakaway-blonde"><strong>Breakaway Blonde</strong></a>. Matt just got back from a cruise up to Halifax, and he’s cracking open a <a target="_blank" href="https://www.beeradvocate.com/beer/profile/42633/703915/"><strong>Tiny Angus from Breton Brewing Co</strong></a>. The beer itself wasn’t the entire story, though. The real adventure involved hauling a giant box of Canadian beer off the cruise ship after discovering that local liquor stores sold individual cans from regional breweries. </p><p><strong>Name That Stat 📊</strong></p><p>Our numbers this week ranged from timely to topical. Matt shared the <a target="_blank" href="https://www.espn.com/soccer/story/_/id/48252606/fifa-president-infantino-lands-6m-pay-package-following-inaugural-club-world-cup"><strong>annual compensation of FIFA President Gianni Infantino</strong></a>, sparking a conversation about whether that figure is too high, too low, or about right compared to leaders of other major sports organizations. </p><p>We initially skipped Jadrian’s number entirely, but remembered it midway through the episode. Fortunately, his statistic fit perfectly with our discussion of the 2010s, focusing on the amount of Bitcoin involved in the first-ever commercial purchase of <a target="_blank" href="https://apnews.com/article/bitcoin-pizza-day-trump-laszlo-hanyecz-crypto-9288849c8a3a9767c3b552021f32c509"><strong>two pizzas</strong></a>.</p><p>Show Notes</p><p>When people think back on economic history, they usually remember dramatic moments: crashes, recessions, bubbles, or breakthroughs. That’s what makes the 2010s such an interesting decade. One of the defining features of the period may have been the lack of a single major disruptive economic event in the United States. Instead, the decade was largely shaped by <a target="_blank" href="https://www.federalreservehistory.org/essays/great-recession-and-its-aftermath"><strong>a long recovery from the Great Recession</strong></a> and a steady return to economic normalcy.</p><p>While events like the <a target="_blank" href="https://en.wikipedia.org/wiki/Euro_area_crisis"><strong>European debt crisis</strong></a>, concerns over government debt, and political movements such as <a target="_blank" href="https://en.wikipedia.org/wiki/Occupy_Wall_Street"><strong>Occupy Wall Street</strong></a> and the <a target="_blank" href="https://en.wikipedia.org/wiki/Tea_Party_movement"><strong>Tea Party</strong></a> captured headlines, much of the economic story centered on slowly improving labor markets, rising household incomes, and a return to economic stability. </p><p>Unemployment fell from nearly <a target="_blank" href="https://fred.stlouisfed.org/series/UNRATE#"><strong>10% at the start of 2010 to just 3.6% by the end of 2019</strong></a>. At the same time, <a target="_blank" href="https://fred.stlouisfed.org/series/CIVPART"><strong>labor force participation drifted lower</strong></a> as Baby Boomers retired and some workers left the labor market altogether. The result was an economy that slowly but consistently tightened, eventually producing stronger income growth in the latter half of the decade.</p><p>With the benefit of hindsight, there are several candidates for the decade’s most important economic development. One contender was <a target="_blank" href="https://csuredi.org/redi_reports/inside-the-rise-of-the-gig-economy/"><strong>the rise of the gig economy</strong></a>. Companies like Uber and Lyft normalized flexible work arrangements and created entirely new ways for people to earn income. What felt revolutionary at the time now feels so commonplace that it’s easy to forget how quickly these platforms transformed labor markets.</p><p>Several other developments quietly reshaped the economy. Fracking dramatically increased domestic energy production and helped keep energy prices lower than they otherwise would have been. Meanwhile, Bitcoin and cryptocurrency emerged from niche internet experiments into assets that would eventually become part of mainstream financial conversations. </p><p>But if there was one innovation that connected nearly every major trend of the decade, it was the smartphone, which <a target="_blank" href="https://www.bbc.com/news/business-38320198"><strong>fundamentally changed how Americans navigate, shop, pay for goods, consume media, communicate, and even work</strong></a>. Ride-sharing apps, mobile banking, streaming services, social media, GPS navigation, and countless other conveniences all became possible because powerful computers migrated into our pockets. Looking back, it’s hard to imagine any other technology having a larger effect on daily life during the 2010s.</p><p>Finally, no discussion of the decade would be complete without policy. The Affordable Care Act dominated political and economic debates throughout the 2010s, generating <a target="_blank" href="https://www.kff.org/affordable-care-act/health-policy-101-the-affordable-care-act/"><strong>intense disagreement that continues today</strong></a>. Of course, this decade also saw regulatory reform, rising federal debt, and the broader political backdrop of the Tea Party movement and Occupy Wall Street. Whether you view these developments as successes, failures, or something in between, they helped define the economic and political landscape that carried into the 2020s.</p><p>Economists love making lists, and we’re willing to admit ours might be incomplete. What did we miss? If there’s a defining economic moment from the 2010s that deserves more attention, tell us in the comments and make your case.</p><p>Pop Culture Corner 🍿</p><p>Jadrian kept things topical with a look back at Shark Tank, one of the defining television hits of the 2010s. Beyond the memorable pitches and dramatic negotiations, the show offers a surprisingly useful way to teach economics. In the middle of the decade, a group of economists developed <a target="_blank" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2655655"><strong>lesson plans and classroom activities built around selected clips from the show</strong></a>, using them to explore entrepreneurship, costs of production, and business decision-making.</p><p>Matt’s selection was <a target="_blank" href="https://broadwayeconomics.com/why-we-build-the-wall/"><strong>Hadestown</strong></a>, the acclaimed musical inspired by the myth of Orpheus and Eurydice. While the story is set in a post-apocalyptic world with strong Great Depression-era influences, <a target="_blank" href="https://broadwayeconomics.com/why-we-build-the-wall/">it raises questions</a> about migration, opportunity, labor, and economic hardship that connect surprisingly well to many of the issues discussed throughout the episode. </p><p></p><p>Have a question or topic idea? Reply to this email or drop it in the comments! </p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://www.econhappyhour.com?utm_medium=podcast&utm_campaign=CTA_1">www.econhappyhour.com</a>
May 21, 2026
The Economy by Decade: The 2020s
<p>The 2020s have already delivered one of the strangest economic decades in modern history. We unpack how the pandemic reshaped work, inflation, housing, consumer behavior, and even the way economists think about recessions. We debate whether the pandemic or AI will ultimately define the decade, revisit the policy decisions that still shape the economy today, and talk through why everything from used cars to mortgage rates suddenly felt upside down. Along the way, we explore why the economy has seemed surprisingly resilient despite nonstop shocks, disruptions, and uncertainty.</p><p><strong>In this episode, we talk about:</strong></p><p>* Whether the pandemic or AI will be remembered as the defining economic event of the 2020s</p><p>* Inflation, stimulus policies, tariffs, and the strange post-pandemic economy</p><p>* How housing, work-from-home, and consumer habits permanently changed</p><p>* Why the 2020s economy has felt unusually weird and unpredictable</p><p>If you liked this conversation, you might also enjoy</p><p><strong>This Week’s Drinks 🍻</strong></p><p>Jadrian cracked open a <a target="_blank" href="https://www.hardywood.com/pils"><strong>Hardywood Pils</strong></a>, leftover from an end-of-semester cookout with his TAs. He almost grabbed the PBR x Grillo’s Pickle Beer, but decided to save that adventure for a future episode. Matt went with a <a target="_blank" href="https://www.bigoysterbrewery.com/items/hammerhead-ipa"><strong>Hammerhead IPA from Big Oyster Brewery</strong></a>, a West Coast-style IPA brewed with six hop varietals for an intense citrus and grapefruit character with notes of pine.</p><p><strong>Name That Stat 📊</strong></p><p>We originally planned to talk about the economics of higher education, so Jadrian brought in a stat on <a target="_blank" href="https://www.wsj.com/lifestyle/careers/a-masters-degree-isnt-the-job-guarantee-it-used-to-be-53e237aa?st"><strong>the number of graduate programs in the U.S.</strong></a>, which has grown by roughly 69% since the early 2000s. But once we decided to launch our “economics by the decade” series, Matt pivoted to one of the defining economic indicators of the 2020s: <a target="_blank" href="https://www.pbs.org/newshour/economy/u-s-inflation-at-9-1-percent-a-record-high"><strong>the inflation rate that peaked in June 2022</strong></a> at its highest level since the early 1980s.</p><p>Show Notes</p><p>We’re kicking off a new series that looks back at the biggest economic stories of every decade, starting with the 2020s and working backward through history. We’re taking a shot at making sense of the economic chaos of the 2020s. Honestly, “chaos” might undersell it a little. It should be no surprise that we start with the pandemic, which instantly <a target="_blank" href="https://www.worldbank.org/en/publication/wdr2022/brief/chapter-1-introduction-the-economic-impacts-of-the-covid-19-crisis"><strong>disrupted employment, supply chains, education, consumer habits, and everyday life</strong></a>. But twenty years from now, will we remember the pandemic as the biggest story, or will the introduction of generative AI ultimately eclipse it?</p><p>Perhaps the most common theme of the episode is how weird the economy has behaved this decade. Historically, recessions, unemployment, inflation, and growth tended to move together in more predictable ways. The 2020s constantly break those expectations. One easy example: <a target="_blank" href="https://www.nber.org/research/business-cycle-dating"><strong>the NBER determined that the pandemic recession officially lasted only two months</strong></a>, even though the traditional shorthand definition of a recession involves two quarters, or six months, of decline. Of course, the disruption lasted much longer than two months, which allowed educators the chance to explain the ways economists define and measure different indicators.</p><p>The 2020s also included large spikes in inflation without the kind of <a target="_blank" href="https://fred.stlouisfed.org/series/UNRATE"><strong>sustained unemployment</strong></a> that economists might typically expect. The decade saw <a target="_blank" href="https://en.wikipedia.org/wiki/Collapse_of_Silicon_Valley_Bank"><strong>regional bank collapses</strong></a>, <a target="_blank" href="https://en.wikipedia.org/wiki/Tariffs_in_the_second_Trump_administration"><strong>sweeping tariffs</strong></a>, and repeated uncertainty, but markets often just kept chugging along. Even the stock market wasn’t immune to the weirdness. </p><p>There were also some pretty big policy decisions this decade, not all of which have been consensus picks. A lot of people would argue that the earliest rounds of pandemic relief were necessary to prevent economic collapse, while <a target="_blank" href="https://fortune.com/2023/02/01/pandemic-stimulus-money-caused-excess-inflation-fed-study/"><strong>later stimulus packages may have contributed to inflation</strong></a> once the economy had already stabilized.</p><p>But did policymakers really know the economy was in a good place at the time? Maybe not. There was no serious economic justification for imposing widespread tariffs on our trading partners, notwithstanding that tariffs <a target="_blank" href="https://kentclarkcenter.org/surveys/tariffs/"><strong>are almost universally disliked by economists</strong></a>. One takeaway for listeners is that nearly every major decision of the decade came with enormous trade-offs and very little certainty.</p><p>Not to be left out, but housing and consumer trends were also contenders for the defining stories of the decade. Ultra-low <a target="_blank" href="https://finance.yahoo.com/sectors/real-estate/article/covid-era-homeowners-are-still-hanging-on-to-their-ultra-low-rate-mortgages-100000105.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIgzAMeWpn9n-8A4SI4XtzIaDXzE9E7vyaSY-oZcEASKBnIArU-P1wHE5sYTGWmcpNjQVyo8Au1M3FySYRoEeQcbmKzFkF7vllIVfzjrzGAd4dRQvnYTTLdQQ06QZ7zbBOdGN1rOUpwbUE1ZpD1QMXLOKVIMrdmJ6ZJu7Ve9mi7Q"><strong>pandemic-era mortgage rates locked many homeowners into staying put</strong></a>, while newer buyers suddenly faced dramatically higher borrowing costs. Meanwhile, consumers saw a massive uptick in online ordering, curbside pickup, delivery apps, and mobile-first shopping experiences that never really disappeared afterward.</p><p>In many ways, the 2020s feel like a decade where the economy keeps absorbing shocks that would have seemed unimaginable only a few years earlier. And somehow, despite all of it, things keep moving forward, even if nobody is entirely sure what “normal” is supposed to look like anymore.</p><p>So tell us: what did we miss? What do you think will define the 2020s economically? And which decade are you most excited for us to cover next?</p><p>Leave a comment and let us know how wrong we were. </p><p>Pop Culture Corner 🍿</p><p>While it’s not a traditional pop culture contribution, Jadrian shared a book recommendation: <a target="_blank" href="https://amzn.to/4uZH7Pw"><strong>Financial Diaries</strong></a><a target="_blank" href="https://amzn.to/4uZH7Pw"> </a>by Jonathan Morduch and Rachel Schneider. The authors draw on the lives of 235 low- and middle-income families over the course of a year, using those diaries to challenge popular assumptions about how Americans earn, spend, borrow, and save. The book highlights how income volatility, not just low income, creates financial stress for many working families.</p><p>Matt has recently been working on expanding his pop culture reach across new disciplines, including political science and accounting. His contribution this week included a classic scene from Office Space, where “The Bobs” are brought in to audit Initech.</p><p>The second clip comes from a project on helping accounting professors teach their courses. In the following scene from The Office, Michael Scott puts discount tickets randomly into boxes. The accounting question: how does that liability factor onto the balance sheet?</p><p>Have a question or topic idea? Reply to this email or drop it in the comments! </p> <br/><br/>This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://www.econhappyhour.com?utm_medium=podcast&utm_campaign=CTA_1">www.econhappyhour.com</a>
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